Vancouver, British Columbia--(Newsfile Corp. - July 24, 2019) - Equitorial Exploration Corp. (TSXV: EXX) ("Equitorial" or the "Company") is pleased to announce the commencement of a metallurgical bench test program using material from it's LNPG property in the NWT. The Little Nahanni Pegmatite Group Property (LNPG) is a 100% owned Rare Element Lithium-Cesium-Tantalum, LCT pegmatite complex similar in geology to the Greenbushes Pegmatite LCT deposits in Australia. The LNPG property is located in the Northwest Territories 37 kilometres northwest of the recently closed Cantung tungsten mine. A gated road extending northwest from Cantung passes within five kilometres of the LNPG property.
The company's NI 43-101 ( March 20, 2017 ) concludes that there are, "Sufficient grades to bring the rock to within economic values." The combined strike length is 13km and the dyke swarms up to 500 meters. Peak assay values from drill core returned up to 3.1% Li20.
The metallurgical test program will include scoping level testwork to evaluate processing options for the LNPG property. Testwork will be conducted by SGS Canada and managed by Archer, Cathro & Associates (1981) Limited. Phase 1 of the testwork program will include quantitative mineralogy, magnetic separation and flotation testing to produce a high-grade lithium concentrate. If results of the phase 1 work are promising, phase 2 testwork will proceed, including roasting, leaching and hydrometallurgical purification targeting production of battery-grade lithium carbonate.
Technical information in this news release has been approved by Matthew R. Dumala, P.Eng., a geological engineer with Archer Cathro and a qualified person for the purpose of National Instrument 43-101.
ON BEHALF OF THE BOARD OF DIRECTORS OF
EQUITORIAL EXPLORATION CORP.
Patrick Power, President & CEO
+1 (604) 218-8772
FORWARD LOOKING STATEMENTS: This news release contains certain forward-looking statements within the meaning of Canadian securities laws, including statements regarding the Little Nahanni Pegmatite Projects statements pertaining to the ability of Equitorial Exploration Corp.("EXX"); the potential to develop resources and then further develop reserves; the anticipated economic potential of the property; the availability of capital and finance for EXX to execute its strategy going forward. Forward-looking statements are based on estimates and assumptions made by EXX in light of its experience and perception of current and expected future developments, as well as other factors that EXX believes are appropriate in the circumstances. Many factors could cause EXX's results, performance or achievements to differ materially from those expressed or implied by the forward looking statements, including: discrepancies between actual and estimated results from exploration and development and operating risks, dependence on early exploration stage concessions; uninsurable risks; competition; regulatory restrictions, including environmental regulatory restrictions and liability; currency fluctuations; defective title to mineral claims or property and dependence on key employees. Forward-looking statements are based on the expectations and opinions of the Company's management on the date the statements are made. The assumptions used in the preparation of such statements, although considered reasonable at the time of preparation, may prove to be imprecise and, as such, undue reliance should not be placed on forward-looking statements. The Company expressly disclaims any intention or obligation to update or revise any forward-looking statements whether as a result of new information, future events or otherwise.
Neither TSX Venture Exchange nor its Regulations Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/46478